Category: Tourism

May 19, 2011 (LBO) – Sri Lanka’s heavily indebted Galadari Hotel plans to convert debt into equity in an effort to take advantage of the tourism boom after the end of the island’s ethnic war. A stock exchange filing said the hotel will convert into shares 5. 75 billion rupees (52 million US dollars) owed […]

LAS VEGAS, May 18, 2011 (AFP) – China, India and Brazil are poised to fuel an explosion in international tourism in the coming years, showering money and jobs on countries ready for it, and trouble for those that aren’t, industry leaders say. With an estimated two billion new middle class consumers expected to come into […]

May 12, 2011 (LBO) – Tourist arrivals into Sri Lanka rose 66. 7 percent to 63,835 in April 2011 from a year ago with sharp increases in visitors from south Asia and the traditional Western European markets. Total arrivals were up 40.4 percent to 278,959 in the four months to April, data from the tourist […]

May 09, 2011 (LBO) – Sri Lanka’s LOLC group has closed three beach hotels it acquired recently – Riverina, Club Palm Garden and Tropical Villas – for refurbishment and modernisation. LOLC said at the time it was holding talks with a “few world-renowned hotel chains” that have shown interest in establishing a partnership with the […]

May 05, 2011 (LBO) – An Indian cruise ship owned and operated by a Chennai-based AMET Shipping India will start calling at Sri Lankan ports in May offering cruises starting at 10,000 Sri Lankan rupees a night, officials said. The cruise service is being launched not only to cater to tourists but also to train […]

May 04, 2011 (LBO) – Sri Lanka’s hotels, enjoying a boom after the end of a war, can seek expansion funds from the stock market, with banks having difficult history of lending to the sector, a report said. However, unlisted firms which form the bulk of the hotels, may face difficulties in using the stock […]

May 03, 2011 (LBO) – Sri Lanka’s Expolanka Holdings and Akquasun Group based in Mumbai have formed a joint venture called Akquasun Lanka to focus on attracting tourists from emerging markets like India, Russia and China. Expolanka Holdings, a diversified conglomerate with interests in transportation, manufacturing, international trading and strategic investments, plans to raise 2. […]

May 01, 2011 (LBO) – Profit margins of Sri Lanka’s tourist hotels are widening with an influx of arrivals and rising room rates after the end of its 30-year ethnic war, a report said. RAM Ratings also noted that despite the recent rate hikes, Sri Lankan hotel rates are still lower than those of the […]

Apr 29, 2011 (LBO) – Sri Lanka’s listed Sunshine Holdings said it was forming a joint venture with SilverNeedle hospitality of Singapore to build and manage hotels in a venture that could see up to 50 million dollars being invested. Sunshine Holdings, which has interest in healthcare, plantations, packaging and power, will make the investment […]

Apr 12, 2011 (LBO) – Sri Lanka’s tourism arrivals rose 43. 5 percent in March 2011 to 75,130, with steep increases seen from South Asia and several European generating markets, data from the tourist promotion office showed. Australia and New Zealand rose 50 percent to 3,540 and North America was up 16.8 percent to 3,990. […]

Mar 23, 2011 (LBO) – International hotel chains Marriot and Hyatt have shown interest in Sri Lanka’s southern Hambantota city, which is bidding for the 2018 Commonwealth Games, an official said. Sri Lanka’s tourist development authority chief Nalaka Godahewa said Marriot and Hyatt have looked for land in Hambantota to build hotels, though no applications […]

Mar 22, 2011 (LBO) – Sri Lanka will host a United Nations backed tourism conference covering Asia Pacific which will also debate the role of media in tourism, an official said. The sessions include a one day seminar on “Mainstreaming tourism in the media” which will see the participation of international media and marketing experts. […]